Penang · Area guide
Penang Island property
George Town, Gurney, Tanjung Tokong and Tanjung Bungah on the north-east coast, and Bayan Lepas beside the airport and the free industrial zone: where most of Penang’s high-rise demand is.
18 projects on this site
Projects in Penang Island
Each has its own page with layouts, facilities, recorded prices and rents, and the rules for foreign buyers.
FREEHOLDTanjung Bungah
Alila2
Freehold · 1,905–5,789 sq ft · Tanjung Bungah
Space and greenery · Large freehold homes
Completed
View project →
FREEHOLD📷 6Mount Erskine, Tanjung Tokong
Mont Residence
Freehold · 872–1,226 sq ft · Mount Erskine
Close to the north-east coast · Practical layouts
Completed
View project →
FREEHOLD📷 3Seri Tanjung Pinang, Tanjung Tokong
Quayside Seafront Resort Condominium
Freehold · 1,137–7,000 sq ft · Seri Tanjung Pinang
Seafront promenade to Straits Quay · Grounds rather than a podium
Completed
View project →
FREEHOLD📷 3Tanjung Tokong
The Tamarind
Freehold · 1,047–1,372 sq ft · Seri Tanjung Pinang
A walk to the seafront · Three bedrooms in every unit
Completed
View project →
Jalan Macalister, George Town
Tropicana 218 Macalister
299 homes · 378–1,312 sq ft · Jalan Macalister
Central George Town · Hotel and heritage on site
Completed
View project →
FREEHOLDBatu Ferringhi
Ferringhi Residence
Freehold · 1,510–1,752 sq ft · Batu Ferringhi
Beach and resort strip close by · Near an international school
Completed~1 km to the beach
View project →
FREEHOLDBatu Ferringhi
Moonlight Bay
Freehold · 1,950–2,200 sq ft condos and villas · Batu Ferringhi
Resort-style grounds · Beach and school nearby
Completed
View project →
FREEHOLDSungai Ara, Bayan Lepas
The Clovers
Freehold · 728–1,598 sq ft · Sungai Ara
Close to the airport and the FIZ · Freehold at a mid-market price
Completed~3.1 km to Penang airport
View project →
FREEHOLDGelugor
Arte S
Freehold · near USM · listed from about RM480k
Near USM and the bridge · Freehold below RM1 million
Completed5.1 km to Penang Bridge
View project →
FREEHOLDGurney, George Town
Gurney Paragon Residences
Freehold · 2,810–6,792 sq ft · Persiaran Gurney
Gurney on foot · Few neighbours per floor
Completed
View project →
FREEHOLD📷 7Gurney Drive
Setia V Residences
Freehold · about 1,400–7,119 sq ft · off Gurney Drive
A Gurney Drive address · Few homes per floor
Completed< 1 km to Gurney Plaza
View project →
FREEHOLDTanjung Bungah
Infinity
Freehold · 3,693–11,593 sq ft · Tanjung Bungah seafront
On the seafront · Space and privacy
Completed
View project →
FREEHOLDThe Light Waterfront, Gelugor
The Light Linear
Freehold · 1,475–1,561 sq ft · The Light Waterfront
Part of The Light Waterfront · Three bedrooms throughout
Completed
View project →Bayan Lepas
Queens Residences Q2
Freehold · 950–1,650 sq ft · opposite Queensbay Mall
Opposite Queensbay Mall · Close to the jobs
Completed8 km to the airport
View project →Bayan Indah, Bayan Lepas
Summerton Condominium
Freehold and leasehold · 1,733–2,694 sq ft · Bayan Indah
Queensbay on the doorstep · Large homes
Completed~5 min to the Penang Bridge
View project →Bayan Indah, Bayan Lepas
Tropicana Bay Residences
Freehold · 455–1,950 sq ft · Penang World City
Between the two bridges · A long facilities list
Completed
View project →
Farlim, Air Itam
All Seasons Park
Freehold, 808 units in four towers near the Air Itam bus hub, completed 2013. Asking about RM486–587 psf.
Schools within walking range · Bus hub and Penang Hill nearby
Completed
Facts and buying guide →Bayan City, Bayan Baru
Elit Heights
Freehold on commercial title, 600 units in three towers in Bayan Baru, completed 2014. Asking about RM367–602 psf.
Near the jobs · Daily needs close by
Completed~8.7 km to the Penang Bridge
Facts and buying guide →The numbers
Prices and rents in Penang Island
One line per project, as cited on its page: recorded transactions where published, otherwise asking prices, with the source and date.
| Project | Tenure | Completed | Price | Rent |
|---|---|---|---|---|
| Alila2 | Freehold | 2018 | RM1,184 psf · typical RM1,139–1,320 psf EdgeProp, viewed 2 Oct 2026 | From about RM5,000 a month PropertyGuru, Oct 2026 |
| Arte S | Freehold | 2018 | RM480k–719k · about RM429–828 psf PropertyGuru listings, Oct 2026 | About RM2,000–3,200 a month PropertyGuru listings, Oct 2026 |
| Ferringhi Residence | Freehold | 2016 | From about RM670,000; a 1,510 sq ft unit at RM730,000 (about RM483 psf) PropertyGuru building page and listing, Sep–Oct 2026 | From about RM1,800 a month PropertyGuru and iProperty, Oct 2026 |
| Gurney Paragon Residences | Freehold | 2010 | RM943 psf · typical RM826–1,115 psf EdgeProp, viewed 5 Oct 2026 | From about RM6,500–7,000 a month; a 4+1-bed 4,650 sq ft unit asks RM10,000 PropertyGuru and iProperty, Sep–Oct 2026 |
| Infinity | Freehold | 2009 | RM807 psf · typical RM734–936 psf EdgeProp, viewed Oct 2026 | 3,693–3,768 sq ft about RM7,500–8,000; 4,866 sq ft about RM10,000 a month iProperty listings, Aug 2026 |
| Mont Residence | Freehold | 2018 | RM753 psf · typical RM601–795 psf EdgeProp, viewed 5 Oct 2026 | About RM1,800–3,500 a month, most RM2,300–2,600 PropertyGuru listings, Oct 2026 |
| Moonlight Bay | Freehold | 2010 | RM1.25m–1.58m Mudah listings, Oct 2026 | About RM4,000–5,000 a month Mudah listings, Oct 2026 |
| Quayside Seafront Resort Condominium | Freehold | 2013 | RM1,052 psf · typical RM895–1,148 psf EdgeProp, viewed 5 Oct 2026 | About RM3,300–7,000 a month; 1 and 1+1 bed mostly RM3,300–4,800 iProperty listings, Oct 2026 |
| Queens Residences Q2 | Freehold | 2022 | RM1,136 psf · typical RM984–1,265 psf EdgeProp, viewed 2 Oct 2026 | About RM3,000–4,800 a month PropertyGuru listings, Oct 2026 |
| Setia V Residences | Freehold | 2017 | RM1,475 psf · typical RM1,280–1,519 psf EdgeProp, viewed 2 Oct 2026 | About RM4,500–8,500 a month iProperty and PropertyGuru listings, Oct 2026 |
| Summerton Condominium | Freehold and leasehold | 2014 | RM468 psf · typical RM441–539 psf EdgeProp, viewed Oct 2026 | About RM2,000–5,300 a month, most RM3,000–4,500 PropertyGuru listings, Oct 2026 |
| The Clovers | Freehold | 2017 | RM466 psf · typical RM445–522 psf iProperty transaction records, viewed Oct 2026 | About RM1,100–3,000 a month; 776 sq ft about RM1,400, 1,598 sq ft about RM1,600–2,500 Mudah listings, Oct 2026 |
| The Light Linear | Freehold | 2012 | RM700 psf · typical RM651–751 psf EdgeProp, viewed 5 Oct 2026 | About RM2,600–3,200 a month, most RM2,700–3,000 iProperty listings, Sep–Oct 2026 |
| The Tamarind | Freehold | 2019 | RM780 psf · typical RM714–879 psf EdgeProp, viewed 2 Oct 2026 | About RM2,600–4,500 a month, most RM2,800–3,500 PropertyGuru listings, Oct 2026 |
| Tropicana 218 Macalister | Records differ | 2018 | RM1,065 psf · typical RM997–1,180 psf EdgeProp, viewed 5 Oct 2026 | From about RM2,000 a month iProperty building page, Oct 2026 |
| Tropicana Bay Residences | Freehold | 2017 | RM665 psf · typical RM606–722 psf EdgeProp, viewed Oct 2026 | Studios about RM1,600–1,700; 872–1,020 sq ft about RM1,800–3,400, most RM2,000–2,500 a month Mudah listings, viewed Oct 2026 |
| All Seasons Park | Freehold | 2013 | RM470,000–670,000 · RM487–589 psf (10 sales) PropertyGuru building page, viewed Oct 2026 | About RM1,300–2,800 a month, most RM1,500–2,300 PropertyGuru listings, Sep–Oct 2026 |
| Elit Heights | Freehold | 2010–2014 | RM500,000–1.2 million · about RM367–602 psf PropertyGuru listings, Oct 2026 | About RM1,800–2,500 a month, most RM2,000–2,200 PropertyGuru listings, Oct 2026 |
Figures and sources as shown on each project page, checked October 2026. Asking prices are what owners want, not what units sold for.
Living here
What to know about Penang Island
Getting around
Most residents drive or use Rapid Penang buses; the island is linked to the mainland by the Penang Bridge and the Sultan Abdul Halim Muadzam Shah Bridge.
Everyday life
Gurney Plaza and Gurney Paragon, George Town’s heritage core, Straits Quay, and the factories and offices of Bayan Lepas.
Before you buy
Foreign buyers need at least RM1 million for island strata units, pay a 3% state levy and must hold for three years. Check those rules first.
Foreign buyers
The Penang rules that apply in Penang Island
Minimum price, island strata: RM1 million
Foreign individuals and companies may buy a condominium or serviced apartment on Penang Island only at RM1 million or more (state guideline, in force since 1 July 2012).
Minimum price, island landed: RM3 million
Landed homes and landed strata on the island need a price of RM3 million or more, for sale agreements from 1 April 2017.
Minimum price, Seberang Perai strata: RM500,000
On the mainland the strata minimum for foreign buyers is RM500,000 from 28 April 2017. For mainland landed homes, press reports (2017–2019) give RM1 million; confirm with your lawyer.
Summary of the state rules on the Penang property page. Confirm the current position with your lawyer. See also Can a foreigner buy it?
Straight answers
Frequently asked questions
Which projects in Penang Island are freehold?
On this site: Alila2, Arte S, Ferringhi Residence, Gurney Paragon Residences, Infinity, Mont Residence, Moonlight Bay, Quayside Seafront Resort Condominium, Queens Residences Q2, Setia V Residences, The Clovers, The Light Linear, The Tamarind, Tropicana Bay Residences. For the others, the title is leasehold or not confirmed; check the tenure and the years remaining on the title before you buy.
Can a foreigner buy property in Penang Island?
Yes, subject to the Penang rules: Minimum price, island strata: RM1 million; Minimum price, island landed: RM3 million. State consent is needed and stamp duty for foreigners buying a home is 8% from 1 January 2026.
What do units in Penang Island rent for?
Examples from the project pages: Alila2: From about RM5,000 a month (PropertyGuru, Oct 2026); Arte S: About RM2,000–3,200 a month (PropertyGuru listings, Oct 2026); Ferringhi Residence: From about RM1,800 a month (PropertyGuru and iProperty, Oct 2026); Gurney Paragon Residences: From about RM6,500–7,000 a month; a 4+1-bed 4,650 sq ft unit asks RM10,000 (PropertyGuru and iProperty, Sep–Oct 2026).
Can you find me a unit in Penang Island?
Yes. Send me your budget, size and timing on WhatsApp and I will shortlist units across the IQI network, with recorded prices for each building.
Looking in Penang Island?
Tell me your budget, size and timing. I will send a shortlist with recorded prices and rents for each building.